PRESS DIGEST - Wall Street Journal - Jan 4

Jan 4 The following are the top stories in the
Wall Street Journal. Reuters has not verified these stories and
does not vouch for their accuracy.

* Investors are jumping out of mutual funds managed by
professional stock pickers and shifting money into lower-cost
funds that echo the broader market. Through November, investors
pulled $119.3 billion from so-called actively managed U.S. stock
funds in 2012, the biggest yearly outflow since 2008, according
to data from research firm Morningstar. ()

* U.S. antitrust regulators who spent nearly two years
probing Google Inc's business practices came up
virtually empty-handed, preserving the company's dominant
Web-search business and dealing a blow to competitors such as
Microsoft Corp. ()

* Offshore driller Transocean Ltd will pay $1.4
billion to settle all federal civil and criminal claims relating
to the 2010 Deepwater Horizon accident in the Gulf of Mexico,
the U.S. Department of Justice said. ()

* Cautious U.S. consumers restrained their spending in
December, making for a disappointing holiday season for
retailers at what is usually their busiest time of the year. ()

* The U.S. Securities and Exchange Commission has wrapped up
its investigation into possible insider trading by a former top
executive at Warren Buffett's Berkshire Hathaway Inc
and has decided not to take action, the executive's lawyer said
Thursday. ()

* Wegelin & Co, Switzerland's oldest bank pleaded guilty to
a criminal conspiracy charge in the United States on Thursday
and admitted that it helped wealthy Americans for years avoid
tens of millions of dollars in taxes by hiding their income from
secret accounts abroad. ()

* Boeing Co said Thursday that it delivered 601
commercial jets last year, likely topping rival Airbus
to become the world's largest aircraft manufacturer for the
first time since 2002. ()

* U.S. auto sales finished the year strong as consumers
largely ignored the debate over the fiscal cliff in Washington,
D.C., and headed to dealers to replace aging vehicles. ()

* Hormel Foods Corp agreed to pay about $700 million
for Unilever's Skippy peanut-butter business, seeking
to expand its lunchtime offerings in the U.S. and accelerate
growth in China. ()

Next In Funds News

KINSHASA, Dec 9 The appointment of a temporary
administrator to run the Tenke copper mine has been blocked by
an appeals body, the mine said on Friday, removing a hurdle to a
takeover by China Molybdenum.

COPENHAGEN, Dec 9 Stock exchange operator Nasdaq
will replace Denmark's main C20 CAP index with a new
index of 25 companies to reflect a higher market capitalisation
and turnover following two of the world's biggest IPOs in
Copenhagen this year.

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